Good Monday — a drone struck a nuclear power plant in the UAE over the weekend, markets opened with a strong opinion about this, and John Travolta received an Honorary Palme d'Or at Cannes in the manner of a man receiving the best news of his week. Meanwhile, an asteroid is flying past Earth today closer than some of our satellites, which the astronomers assure us is fine. Here's what's happening.

AI & Tech

Anthropic Commits $200 Billion to Cloud Infrastructure, Just in Case More Power Is Required

Anthropic has reportedly committed upwards of $200 billion toward cloud infrastructure and computing capacity, in partnership with Google Cloud — a figure that prompted the sort of intake of breath one ordinarily reserves for dental estimates. The investment signals that the race for AI dominance is no longer merely a contest of clever algorithms but an infrastructure arms race of a scope that would have seemed faintly unhinged eighteen months ago. One concludes that whoever controls the chips controls the conversation, and everyone appears to have concluded this simultaneously.

Source: Crescendo AI

OpenAI Imagines a World Without Apps. The Apps Are Not Consulted.

OpenAI is reportedly exploring a new category of AI-first devices that would eliminate the traditional app model altogether — a vision in which the operating system is, essentially, a very clever AI that handles requests without the intermediary step of opening a programme. Whether this constitutes bold innovation or the removal of something that was working perfectly well depends rather on one's relationship with the App Store. Google, meanwhile, quietly shuttered its internal AI agent project "Mariner" ahead of its I/O developer conference on Tuesday, which is the sort of thing companies do when they have something better to announce and would prefer the old thing not to be standing nearby when they do.

Source: TechCrunch

US Politics

Trump Returns from Beijing Having Left, by Several Accounts, Empty-Handed

The weekend's postmortems on President Trump's three-day visit to China arrived with the consensus one might have expected: the summit produced a warm atmosphere, several photographs of two men shaking hands, and rather fewer concrete outcomes than the advance billing had suggested. Taiwan was raised and not resolved. Iran was discussed and not resolved. Trade was presumably mentioned at some point and, one gathers, also not resolved. The visit has been described by analysts as "better than nothing," which in the context of U.S.-China relations is, one supposes, the diplomatic equivalent of a standing ovation.

Source: MSNBC

NATO Discovers It Was Not Informed About the Iran War Until the Bombs Were Falling

Reporting this weekend confirmed that the Trump administration left NATO allies largely in the dark before launching strikes on Iran — a revelation that has prompted considerable discussion among alliance members about the future of an arrangement in which the dominant partner operates on something of an independent schedule. European nations, several of which have been arguing since 2017 that the alliance required restructuring, found themselves in the uncomfortable position of having been right. Canada and Germany have been particularly vocal. Speaker Johnson, addressing the domestic political climate, described the Republican Party as "vibrant" and in a "great position," suggesting he has been consulting different polling data than most observers.

Source: NPR

Geopolitics

A Drone Strikes a Nuclear Power Plant in the UAE. The IAEA Has Thoughts.

A drone struck the Barakah nuclear power plant in the UAE's Al-Dhafra region on Sunday, prompting the International Atomic Energy Agency to express what it diplomatically termed "grave concern" — a phrase the IAEA does not deploy lightly, given that its ordinary register is one of calibrated reassurance. The plant, which provides roughly 25% of the UAE's electricity, was not, officials said, in operational crisis following the strike, which one acknowledges is the relevant fact, while noting that "a drone struck a nuclear power plant" is the sort of sentence that has a tendency to linger. The attack is broadly attributed to Iran-aligned forces and represents a significant escalation in the regional dimensions of the conflict.

Source: Radio Free Europe

Iran and Oman Begin Talks on the Strait of Hormuz. The Shipping Industry Is Paying Close Attention.

Iranian Foreign Minister Abbas Araqchi announced this weekend that Tehran is consulting with Oman to establish what he called "a suitable mechanism for managing the Strait of Hormuz" — a phrase that could mean almost anything, but which the global shipping industry is reading with the concentrated attention of people whose livelihoods depend on oil tankers arriving more or less where they are supposed to. Pakistan's Interior Minister also held talks with Iranian counterparts in Tehran on the "resumption of negotiations," suggesting that the diplomatic traffic around the conflict has not entirely dried up. Whether any of it produces results remains, as with nearly everything in this particular region, an open question.

Source: Geopolitical Futures

Economy

Markets Open the Week With a Strong Opinion About Oil Prices

U.S. equity markets began the week in a mood, with the S&P 500 down 1.24%, the Nasdaq off 1.54%, and the 10-year Treasury yield spiking to 4.55% — its highest level in nearly a year — as traders processed the weekend's geopolitical developments with the enthusiasm of people who had been hoping for rather different headlines. The drone strike on the UAE nuclear plant, combined with persistently elevated oil prices, reminded markets that the Iran situation remains unresolved regardless of ceasefire extensions. Kevin Warsh, meanwhile, begins his first week as Fed Chair against a backdrop that can be charitably described as eventful, with the odds of a rate hike this year now sitting at 45%.

Source: Charles Schwab

Manufacturing Surges in New York State, Just to Complicate the Narrative

The Empire State Manufacturing Index for May leaped to 19.6, up from 11.0 in April and well above the 6.2 analysts had forecast — delivering a data point that sat somewhat awkwardly alongside the week's gloomier economic headlines, like a guest who arrived at a funeral in a rather festive hat. Manufacturing strength in the region suggests that the tariff reshoring impulse may be producing some actual results, or alternatively that the survey simply caught a pocket of optimism before the oil prices and Treasury yields fully registered. Economists, as ever, are divided on which of these explanations is more flattering, and which more accurate.

Source: Crestwood Advisors

Science

An Asteroid Is Flying Past Earth Today, Closer Than Some of Our Satellites

Asteroid 2026 JH2 — newly discovered, up to 115 feet wide, and traveling at a speed that discourages close examination — will fly past Earth today at a distance closer than some satellites in low Earth orbit, which is either thrilling or alarming depending on one's general disposition toward rocks. The flyby is being livestreamed for those who prefer their existential encounters mediated by a screen, and astronomers are unanimous in their assurance that the asteroid will not actually strike Earth. The asteroid was discovered only recently, which is the sort of thing one might have preferred to know somewhat earlier, though the astronomers point out, not unreasonably, that it is not striking Earth, and perhaps one ought to focus on that.

Source: Live Science

Nanotechnology Reverses Alzheimer's Symptoms in Mice. The Mice Are Not Available for Comment.

Scientists announced this week that a nanotechnology treatment has reversed Alzheimer's symptoms in mice, using specially engineered nanoparticles to clear toxic amyloid proteins from the brain and repair the blood-brain barrier — the cellular membrane that keeps the brain's neighbourhood roughly in order. The results are described as "promising," which in medical research is the polite way of saying that the mice are doing considerably better and that humans should not get their hopes up prematurely, but cannot be asked to do otherwise. The path from successful mouse trial to approved human treatment is long, expensive, and littered with the remains of previously promising mice, but the mechanism is genuinely novel and the researchers, one senses, are rather pleased.

Source: ScienceDaily

Culture

John Travolta Receives an Honorary Palme d'Or at Cannes, and Is Moved to Tears

The 79th Cannes Film Festival, already notable for its jury (presided over by South Korean director Park Chan-wook, who has not directed a bad film) and its Honorary Palme recipients (Peter Jackson, John Travolta, and Barbra Streisand — a trio one could not have predicted), produced its most arresting moment over the weekend when Travolta was surprised with his honorary award before a screening of Propeller One-Way Night Coach. Travolta, reportedly not informed of the honour in advance, was moved to tears. "This is beyond the Oscar," he said — a remark that will have been received with varying degrees of enthusiasm in certain parts of Los Angeles. The main competition winners are announced at the closing ceremony on May 23.

Source: Variety

Iran's Soccer Team Is Going to the World Cup. The Timing Is, Shall We Say, Interesting.

FIFA confirmed this weekend that Iran's national soccer team is participating in the 2026 World Cup, with the squad departing for a training camp in Antalya, Turkey on Monday — an announcement that arrives in a news cycle otherwise dominated by drone strikes and ceasefire extensions with a surreality that even the most committed sports fan must acknowledge. A FIFA official described recent talks with Iranian football federation officials as "excellent and constructive," which is either a testament to the apolitical universality of sport or a fairly remarkable example of institutional compartmentalization, and possibly both. The tournament opens in June at venues including MetLife Stadium in New Jersey.

Source: Radio Free Europe